The Press Newspaper
Woodmore forum set for Monday night
The forums are being held to update district residents on a school tax issue on the May 3 ballot and to inform residents about the district’s financial condition.
A final forum will be held May 2 in the high school cafeteria form 7-8 p.m.
The board in February approved a resolution to place a 3.95-mill, 5-year emergency levy on the May ballot.
If voters pass the levy it will generate approximately $600,000 annually for the district, which is facing a projected deficit in the general fund by July 1, 2012.
Woodmore officials are anticipating the district will realize a net loss in state funding in the next fiscal year, which starts July 1, if the proposed budget by Gov. John Kasich is adopted.
Superintendent John Fernbaugh said Woodmore schools would receive increases in state foundation payments - $43,215 in fiscal 2012 and $65,113 in fiscal 2013 – but those increases would be more than offset by losses of $168,892 each year in tangible personal property tax revenues.
Ohio has adopted a commercial activity tax to replace tangible property taxes levied on business equipment, inventory, and other assets.
The CAT is based on gross receipts of businesses.
The program will include a tour of the facility and a short presentation by Director Tim Wasserman. He will describe how three counties work together to reduce waste, reuse products, and promote recycling.
A grant is being used to help pay for the project.
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